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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Revenue:        
Rental income $ 67,889 $ 65,885 $ 202,275 $ 160,233
Property expense recoveries 17,898 16,964 54,946 39,392
Total revenue 85,787 82,849 257,221 199,625
Expenses:        
Asset management fees to affiliates 5,921 5,448 17,599 13,508
Property management fees to affiliates 2,373 2,265 7,164 5,383
Property operating expense 11,284 10,971 33,512 26,042
Property tax expense 10,876 9,813 33,114 24,548
Acquisition fees and expenses to non-affiliates 7 288 541 1,133
Acquisition fees and expenses to affiliates 0 6,206 1,239 28,477
General and administrative expenses 1,153 1,694 4,525 4,447
Corporate operating expenses to affiliates 578 164 1,431 469
Depreciation and amortization 34,217 34,638 96,904 76,521
Total expenses 66,409 71,487 196,029 180,528
Income (loss) from operations 19,378 11,362 61,192 19,097
Other income (expense):        
Interest expense (12,405) (11,186) (37,249) (23,006)
Other income 623 145 2,692 809
Loss from investment in unconsolidated entities (465) (431) (1,203) (1,177)
Gain on acquisition of unconsolidated entity 0 0 666 0
Gain from sale of depreciable operating property 0 4,115 0 7,728
Net income (loss) 7,131 4,005 26,098 3,451
Preferred units redemption premium 0 (1,198) 0 (8,789)
Distributions to redeemable preferred unit holders 0 (1,131) 0 (8,560)
Less: Net (income) loss attributable to noncontrolling interests (246) (41) (896) 417
Net income (loss) attributable to controlling interest 6,885 1,635 25,202 (13,481)
Distributions to redeemable noncontrolling interests attributable to common stockholders (90) (91) (268) (268)
Net income (loss) attributable to common stockholders $ 6,795 $ 1,544 $ 24,934 $ (13,749)
Net income (loss) attributable to common stockholders per share, basic and diluted (usd per share) $ 0.04 $ 0.01 $ 0.14 $ (0.09)
Weighted average number of common shares outstanding, basic and diluted (shares) 175,570,072 173,987,254 175,443,680 148,467,065
Dividends per share declared (usd per share) $ 0.17 $ 0.17 $ 0.51 $ 0.51